EXHIBIT 99.1
FOR FURTHER INFORMATION: | ||
AT THE COMPANY: | AT ASHTON PARTNERS: | |
Dennis Letham | Chris Kettmann | |
| Chief Financial OfficerInvestor and Media Inquiries | ||
(224) 521-8601 | (312) 553-6716 | |
ANIXTER INTERNATIONAL INC.
ANNOUNCES SHARE REPURCHASE PROGRAM
Glenview, IL., November 2, 2007 –Anixter International Inc. (NYSE:AXE) today announced a share repurchase program under which the Company may repurchase up to 1 million of its outstanding shares with the exact volume and timing dependent on market conditions. Anixter noted that all previously announced share repurchase programs had been completed prior to the end of the first quarter of 2007.
Anixter currently has approximately 37.5 million shares outstanding.
About Anixter
Anixter International is the world’s leading distributor of communication products, electrical and electronic wire & cable and a leading distributor of fasteners and other small parts (“C” Class inventory components) to Original Equipment Manufacturers. The company adds value to the distribution process by providing its customers access to 1) innovative inventory management programs, 2) more than 350,000 products and over $1 billion in inventory, 3) 221 warehouses with more than 5.5 million square feet of space, and 4) locations in 250 cities in 49 countries. Founded in 1957 and headquartered near Chicago, Anixter trades on The New York Stock Exchange under the symbol AXE.
Safe Harbor Statement
The statements in this news release that use such words as “believe,” “expect,” “intend,” “anticipate,” “contemplate,” “estimate,” “plan,” “project,” “should,” “may,” or similar expressions are forward-looking statements. They are subject to a number of factors that could cause the company’s actual results to differ materially from what is indicated here. These factors include general economic conditions, technology changes, changes in supplier or customer relationships, commodity price fluctuations, exchange rate fluctuations, new or changed competitors and risks associated with integration of recently acquired companies. Please see the company’s Securities and Exchange Commission filings for more information.
Additional information about Anixter is available on the Internet at
www.anixter.com